Ron Paul on the Fall of the US Dollar as Reserve Currency: ‘It’s Always Longer Than Some Predictions’

ロン・ポール, a former U.S. representative and member of the Libertarian Party, has addressed recent events directed to undermine the influence of the U.S. dollar as a reserve currency in international markets. Paul believes that even if this does happen, it will probably take more time than some predictions are saying.

Ron Paul Analyzes Fall of US Dollar Hegemony

In the latest edition of his online webcast “The Ron Paul Liberty Report,” former United States representative Ron Paul analyzed the standing of the U.S. dollar as a reserve currency and how current events involving 中国, ロシア, ブラジル, and other countries are threatening this position.

Paul believes that if the U.S. dollar is eventually dethroned as a reserve currency, this will take more time than some predictions are currently announcing, according to the former congressman. これについて, he stated:

People have been talking about this for a long time, and it’s amazing, it’s always longer than some predictions. Somebody could have said in 1930 that the dollar standard is not going to last long with the Fed taking over. Predicting the exact time is very difficult.

さらに, he explained the different stages that the U.S. dollar has faced, putting special emphasis on the abandonment of the Bretton Woods system by former president Richard Nixon, reminding viewers that even then, people heralded the end of the dollar as it became an inflationary currency with no backing.

Consequences of Having a World Reserve Currency

Paul explains that while owning a national currency as a world reserve currency had its benefits for the U.S., it also presented shortcomings. Paul declared:

It gives us a license to inflate. It gives us sanctions to interfere in the market with sanctions. License to fight wars we shouldn’t fight.

For Paul, the demise of the dollar started with the creation of the Federal Reserve, which has a license to manipulate the monetary policy of the country without congressional approval. でも, Paul believes that there is an acceleration with the recent movements of countries seeking to ditch the dollar as a trade currency.

There are signs that something big is happening, and it has to do with China, ブラジル, and Russia. They are ganging up on us. If they are succesful, people will find a scapegoat, but it is not true. We have to look at our monetary policy in a much more honest way.

What do you think About Ron Paul’s stance on the demise of the U.S. ドル? Tell us in the comment section below.

セルジオ・ゴシェンコ

セルジオはベネズエラを拠点とする暗号通貨ジャーナリストです. 彼は自分自身をゲームに遅刻したと説明しています, 12月に価格が上昇したときに暗号圏に参入 2017. コンピュータ工学のバックグラウンドを持つ, ベネズエラ在住, 社会レベルでの暗号通貨ブームの影響を受けている, 彼は、仮想通貨の成功と、それが銀行口座を持たず、十分なサービスを受けていない人々をどのように助けるかについて、異なる視点を提供します.

画像クレジット: シャッターストック, Pixabay, ウィキ・コモンズ, Rich Koele / Shutterstock.com